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CNBC
Oct 8, 2012 3:00pm EDT
, global economic recovery hits the ropes but you do make the point that the u.s. certainly looks better than everyone else. so, the key question is, can the u.s. avoid catching the world's cold? >> that's a literal statement. the u.s. looks better than other xhis in the world but it's not a great spot to be in. with the amount of policy and political uncertainty, the u.s. -- even the u.s. recovery staying strong is certainly not a sure thing. they'll be buffeted by headwinds from abroad because china and india are not doing well. even u.s. has a rocky road ahead. >> you go through nearly every region of the world and talk about all the negatives in every part of the world. is there going to be a global recession? can you put a percentage on it? what's your estimate? >> well, right now it's political and policy uncertainty that's really the big story in virtually every economy. central banks around the world have put a floor on risk, and that's what i think is helping financial markets stay afloat. if you look at the confidence indexes i look at in my overall index, that doesn't l
CNBC
Oct 31, 2012 4:00am EDT
announcements about further probes into practices at the bank by some of the u.s. divisions, including the department of justice and the s.e.c. he's been following it. i was looking tecum net interest in business banking, world and investment banking. to me, this would seem to support it because this is where apparently barclays is focusing its attention, and yet there's no growth in this area. what are the takeaway messages here? >> the takeaway message is going to take time. not going to be turned around over the course of two or three quarters. it does take a lot of time. takes branding, takes marketing. i think investors are maybe showing a little patience with that. obviously you heard about the department of justice and the s.e.c. about how they retain clients. that was unexpected. not sure how much of an impact that could have. but in the short term, it's going to knock some wind off the sails, so to speak. the numbers are in line, actually. they did get propped up from the investment banking side of things. but from a quarterly perspective, investors' banking income was up, but if
CNBC
Oct 30, 2012 4:00am EDT
reposition for the future after what played out in the u.s. is it time for bp to do something controversial sand wade back into the u.s., a country chasing a very strong independent policy? >> then ear asking is it an inquire remember or inquiree. and that's a critical question for this juncture. it could be preying. and that's because of the way it's reshaped itself back to the core business. well done management, you've done everything you can do in the resur against phase. does it need new business to move the business forward. >> big energy names reporting. is this an area that you even . want to be in right now. >> go back to my inflation bug bear. what's interesting actually is that oil and crude oil prices are not the primary driver of inflation, so we actually complaint blame crude oil at that point, although everybody wants to blame it maybe the debate happens with a gallon of gas in the united states over the u.s. presidential election period. p so for me, yes, it's an oil company, yes, it's therefore dependent on the relationships in terms of the underlying price. y
CNBC
Oct 24, 2012 4:00am EDT
weakness in the eurozone, but more so weakness from asia and to a lesser extent, weakness in the u.s. as well. asia slowdown really hittin>> i cart and horse on that. the euro is falling to a session low, post those two bits of data. bund futures extending their gains as well. may not do anything for stock sentiment. talking about asia, china's manufacturing activity was up at a three-month high. the early read suggests the recovery. that wasn't enough to stop a 12th consecutive month of pmi contraction. some analysts still see the need for further stimulus. what is this telling us? are we now on the bottom of the downturn? not the downturn, the slowdown? >> possibly. it's too early to tell. it's only just in -- >> suggest there the chinese survey, the official government one might come out above 50. >> it may well do. but i think one of the interesting things was that the rate of decline has eased quite significantly. the smallest fall for five months. but in there, when we were reading through the reasons, they were saying that their trade had been disrupted due to the spat between
CNBC
Oct 9, 2012 4:00am EDT
. >> imf down grades global growth saying europe and the u.s. needs to get their finances in order or risk further weakness. >> the euro trades lower as draghi speaks in brussels. the ecb president announces proposals to deal with risks from the banking sector. >> plans to make further proposals for macro policy particularly on vulnerabilities linked to bank funding. >> angela merkel faces a tough reception in greece as protesters take to the streets. >>> and alcoa kicks off what could be subdued u.s. earnings season. third quarter results of the s&p 500 are expected to drop overall snapping 11 quarters of gains. >>> okay. good to have you back. >> good to be back. you were out, i was out, it was -- >> and i was a little worried about what you were up to, so i do admit, i had you followed. and my man, he sent me back this photograph. >> oh, no. >> that is you with the goggles, right? >> yes, that's me with the goggles. >> what's going on? >> that's my sister at the end there. so i was back at my alma mater in virginia for my college reunion. part of that was -- >> to dress up and pret
CNBC
Oct 9, 2012 9:00pm EDT
state. in the first decade of the 21st century, big american firms cut around 3 million jobs in the u.s., while adding almost as many overseas. no company went global more aggressively than general electric, the conglomerate that makes everything from refrigerators to m.r.i. machines to jet engines. yet as lesley stahl reported in october 2011, when president obama was looking for someone to help get americans back to work, he recruited a most unlikely candidate: the republican ceo of general electric, jeff immelt. >> the mood is dark. people are pissed. why not try to do better? >> jeff immelt talked about his czarship at a gathering of g.e. managers. >> you know, i grew up in cincinnati, ohio, and my parents are really right-wingers. my dad watches, like, five or six hours of fox news every day and stuff like that. so i called home and said, "hey, just to give you a heads-up, you know, i'm gonna be with the president, and he's asked me to lead this jobs council." and my mother said, "well, you said no, of course, didn't you?" [laughing] i said, "no, mom, that's not what i said." [chee
CNBC
Oct 8, 2012 1:00pm EDT
a lot of share in the u.s. to begin with. but companies that do business with the government might back away from considering huawei. they're the number two telecom maker in the world so this might help cisco gain some share in other markets where governments could be influenced by the u.s. move. could also help erickson, the number one telecom commitment supplier. juniper has set up demo labs to try to push the brand. the key is what happens in europe. u.s. is just 4% of huawei's business. europe is more like 14%. that's where u.s. companies will look to gain an advantage. >> jon, china is also key to another tech company in the news today, apple. the company that assembles iphones is denying reports of strikes over the weekend. what's going on with this. >> well, it's interesting. when this first china labor watch report came out saying that there had had been these strikes, i was a little bit skeptical because that organization has pushed awfully hard against apple. its tone has been a bit harsh about apple's labor relations there. they don't just stick to the facts. but at the
CNBC
Oct 15, 2012 4:00am EDT
they'll go after clearwire, further expand their network in the u.s. >> what is the attraction here for softbank? >> this comes after the transaction of another acquisition in japan. so it's in line with what they've explained to investors over the past two years. where they want to take the company, expand into the telecom sector. and this will allow them to get a foot hold into the u.s. market which they currently don't have a presence in and the inner -- with their massive capital expenditure going forward. >> do you think they're going to start lowering prices or do you think they'll keep prices where they are because they like the cash generation from it? >> as far as bill porter is concerned from softbank's perspective, this will make them the third largest wireless carrier over in the u.s. behind verizon and at&t. and so i think eventually once we deal with the forward capital expenditure that they'll have to invest in going forward, i think we can all talk about, well, is this going to also impact prices in the u.s. but first they'll expand their network before talking about
CNBC
Oct 26, 2012 4:00am EDT
. and a late burst of spending by consumers is likely to boost third quarter u.s. gdp, but growth may still be too sluggish to bring down employment. welcome to today's show. the last one of the week here. and just remind you plenty to get through as we count down toward the gdp number in the u.s. we'll have an interview with the boss of jpmorgan, jamie dimon. his views on the election and his outlook on the economy. microsoft is unveiling its windows 8. we'll have the latest plus in-depth analysis at 11:45 cet from new york. at 10:20, we're heading to hong kong. big day for earnings from chinese lenders. and then at 1 ch11:50, we're in chicago and third quarter u.s. g gdp. apple corporate figures up 24%, but it missed analyst forecasts. second straight miss for the company. revenues rose 27%, slightly better than expected. apple sold nearly 27 million iphones. the iphone 5 was released at the end of the quarter, but ipad sales were well short of forecasts. apple first quarter guidance which includes the holiday shopping season also trails analyst estimates. lowist figure in around fo
CNBC
Oct 8, 2012 4:00am EDT
to stabilize, as well, because of the improving signs in u.s. economy and that will help the china market to fund the bottom and reverse the down trend oig by the second half of the fourth quarter. >> we're looking at this transition towards domestic consumption. the retail sales that we've been looking at as you're suggesting not exactly brilliant either. if you're looking for more policy initiatives, what are they going to be and are they going to focus on that retail consumer side? >> the retail consumer side, yes, they will focus on it, but it will not be a quick fix. trying to encourage more retail and more consumptions, you need structural changing wage growth which they are doing, but they can't to it overnight. and also in providing more social securitys. and that's going to take a while. and i will say that the quick fix is more on the investments which they have already announced sizable stimulus in infrastructure spending. of course the largest component of the gdp which is the fai. and that would be short term solution. long run, yes, they are also working on the retail
CNBC
Oct 2, 2012 1:00pm EDT
. >>> consumer spending making up 70% of the u.s. economy, this holiday shopping season a key gauge on whether this sluggish economy can shift into a somewhat higher gear. new numbers out today from the world's largest retail trade association, the nrf, says u.s. retail sales should rise 4.1% this holiday season. pretty merry. don't get too excited. that is actually slower than the growth the past two years. so, why the slow down in the nrf says the biggest things holding consumers back is uncertainty over the economy and whether congress can strike what deal and avoid the so-called fiscal cliff. >>> one major retailer hoping for a merry holiday season is jc penney. ceo ron johnson continues to outline his plans for the struggling chain store. the stock down 30%. johnson speaking on the record and excuse swivel our courtney real been the state of his business. courtney? >> hi, tyler, good afternoon. jc penney ceo ron johnson has just begun speaking. the toirng the rocky road to reinventing retape. spoke with johnson exclusively before he took the stage at the event. now, 700 of the total 1100
CNBC
Oct 4, 2012 4:00am EDT
to fix the u.s. economy. waiting on spain, the ecb expected to hold steady on rates. country's president tells cnbc that europe's policymakers must remain focused. >> if we get bogged down into what was meant by the june agreements and waste time on this kind of discussions, then it's much less likely that a coherent system will emerge. >> madrid continues to put faith in the hands of private investors while finance minister heads to london to raise funds for the country's bad bank. and india's crucial services sector grows at its fastest rate in seven months, while the government gets set to take another swing at boosting it through foreign investments. thanks very much for joining me. anyone that's missing ross, he'll be back in tomorrow. but for now, you're all mine. . plenty to come on the next couple hours of the show. lots of guests to help us figure out what's going on. we'll get a view from sydney about cautious shoppers. borrowing costs are expected to fall. we'll bring you those results from madrid. and we'll head out to malaysia for an exclusive interview with the co
CNBC
Oct 15, 2012 5:00pm EDT
time when u.s. auto sales were at 40 year lows. morgan stanley got a great note about this. adam jones who indicated that this is not only his top pick but thinks these guys are the way to play u.s. housing recovery. >> pickup truck. >> the f 150 accounts for all their global sales. if you are seeing that recovery this would be fantastic. their em business. in turkey we own them in russia. these guys are exposed but are not reliant on china. all of these guys pent up to the luxury brand that is not ford's game. they are in markets like brazil, turkey and russia. >> does gm's exposure make it less attractive than ford? >> i think people have overdone the fallout. we saw luxury auto numbers come back. i think gm is very balanced in where they are going to profit. it is about europe and not losing more money there. i don't think gm will be that far off. >> i'm with ford. tim made an amazing case. i have been in ford for a while. i have owned it at these levels. i believe in the comeback story and believe i will see much higher in ford. >> what a sincere compliment. i agree with him whole
CNBC
Oct 23, 2012 4:00am EDT
, three town. president obama and mitt romney dual over foreign policy and the health of the u.s. economy in their third and final debate. made vase mire lays out her vision of yahoo! as the internet company posted better than expected third quarter figures. but burberry an lis cutting price targets. and bank of israel splaning for all sorts of eventualities among tipped tensions. . >>> on today's show, plenty to get through of course. let's remind you what's coming up. we'll discuss the presidential debate with experts one which president obama says was clearly the winner while the other thinks romney was the one who looked more presidential. we'll hear from the governor of israel stanley fisher with a live update from tel aviv. and we'll get an in-depth analysis on the latest earnings out of japan. find out what stocks our guests think is a buy at 10:30 cet. also is there more easing on the cards for the fed? we'll head out to philadelphia with the latest expectations. the fed begins its two day meeting. but first, president obama and mitt romney faced off for the third and fin
CNBC
Oct 1, 2012 6:00am EDT
, europe has retained the ryder cup. staging a comeback after the u.s. began sunday with a big lead. europe has won five of the last six matches. this was a heartbreak for anyone watching this. we'll talk more about that a little later this half hour. but first before we get to all of that, andrew has this morn g morning's other top stories. >> we have global data this morning and not all of it that great. eurozone manufacturing reporting its worsts quarterly performance since the depths of the great recession. factories were hit by falling nand. survey suggests that the downturn began in smaller periphery countries has now taken root in core members including germany and france. speaking of europe, an expert group will present its findings to the eu commission, that's coming tomorrow. the proposal could recommend european banks separate retail banking from their riskier investment arms. but eu regulators said to be unlikely to pursue such reforms at a time when they're trying to rebuild a banking union. and asia, a survey showing the economy has certainly suffered a seventh straigh
CNBC
Oct 25, 2012 9:00am EDT
u.s. futures. certainly got a lot of data when it comes to economic data. durables talking of 9.9%. we are seeing a higher open across the board for the s&p, the dow and the nasdaq. taking a look at europe, italy is down by just .10%. a road map develops for what could be a very, very good day in technology. hear what steve ballmer has to say. >>> the mini ipad is out. >>> more trouble at best buy, a major management shakedown. >>> and is cramer going to call this the come back story of the quarter? and could it keep the ceo off the hot seat? >>> we begin today of course with microsoft officially unv l unveiling it's -- the secret staging area microsoft uses to lae out it's retail stores nationwide, we talked to steve ballmer about pcs versus tablets. >> you asked me what's going to happen to the pc market and the tablet market. we can't tell them apart. but with one arrow, we have if you will gotten two birds, tablet and pc, but we don't want to let any of the innovation surface of that not be exploited. that's the only statement we're making. >> what do you think it's going to do? be
CNBC
Oct 25, 2012 4:00am EDT
bring you his comments about the potential impact of the fiscal cliff and the u.s. elections. i know you'll be around, but let's make sure the viewers stick around, too. >> absolutely. carolyn, thanks very much for that. nice shot there. it looks nice there in zurich today. joining us for the first part of the program today, founding partner at lieber investment y suisse's report card. >> >> i think dugan is right to emphasize what they anticipate that they can deliver. it's words you need to hear still on focus of roe target of 15%. it will be some time before they get there, but for a shareholder, this is an important directional drive for credit suisse. they did get beaten up very heavily in the summer by the national bank. we heard the negative segment in the focuses generally focused perhaps on the world management side being an area of shortfall, but ultimately banks are still going through a major process of restructure and reform. there's no point in pretending that just because the eurozone crisis takes many a back seat, that suddenly banks will return to being where everybo
CNBC
Oct 21, 2012 7:30pm EDT
falling off a cliff. the u.s. is doing a little better but all in all the global economy has slowed down and that's a reflection of that. i must say there are people in the tech industry who say it's also that we're sort of running out of ideas, that the silicon valley 2.0 is a bit playing out and we're waiting for another wave of new ideas, we're not seeing it. it may be some mix of those things, maturing industries. i know that's funny to say about things that are only five years old but in that business maybe it's true and slowing economy. i'm not super negative that we're going to just go into a recession unless we do something on the fiscal cliff. but i do believe that with a big overhang of public debt external debt, china, we're not going to grow like gangbusters and not going to see several years of great earnings growth. this moderation is very consistent with what i would expect in this point in the recovery. >> all right, we'll leave it there. great to talk with you, thanks so much. >> thank you, maria. >> ken rogoff joining us. up next, a warning to the world from a woma
CNBC
Oct 24, 2012 3:00pm EDT
have private assets. >> what about bank of america? u.s. attorney in manhattan filing a civil lawsuit. based on your press release earlier this week, this is not a case you would argument against. >> not on the same principle. at this point, i would say i don't know enough about the specifics. let me make this distinction. bank of america did take over merrill lynch under federal pressure. they looked at it and were going to back away. the federal government said no. people should remember the context. this is 2008. the bush administration is desperately trying to stave off economic collapse. the validation of this whole operation is the meltdown we had when lehman brothers was allowed to fail. no one would do for lehman what bank of america did for merrill lynch and what jpmorgan-chase did forbear stearns. with regard to country wide, that was an acquisition which mr. lewis, the former ceo of -- >> right, the chairman. >> there's been a great improvement in the current ceo. i don't have the same principle. on the other hand, there were specific arguments there. have they alre
CNBC
Oct 3, 2012 12:00am EDT
your own survival. >> and what's wrong with that? [ticking] >> when the u.s. oil companies came here in the '40s and '50s, the americans moved into the area with their families and developed it to suit their tastes and their way of life. they created a replica of american suburbia. today you could be in the outskirts of houston or los angeles. it's almost like it's an enclave within saudi arabia. it's--different from the rest of the country. >> yes, that's true, because-- >> very different. it kept a lot of the american ways. >> yes, of course. >> but blocked off from the rest. >> they are good ways. there's nothing wrong with it. these were their excellent ways. >> welcome to 60 minutes on cnbc. i'm morley safer. in this edition, we follow the flow of big oil from massive, mega billion dollar oil fields in saudi arabia to the u.s. where wall street refines the oil into a mega billion dollar commodity. we begin with a look back to 2008 when the price of oil, theoretically tied to supply and demand, suddenly became untethered. storage tanks were full, yet the price skyrocketed from $69 a
CNBC
Oct 11, 2012 4:00am EDT
u.s. is set to further send its dent on the exporters which is of course very important to the economy here. industrial activity also fell for a third month in a row and to top it all off, domestic demand is shrinking. retail sales dipped lower as koreans keep their wallets in their pockets, but all of this is in the cards. what surprised was the sharp cuts to growth projections this year and the next. meanwhile the central bank says its inflation target through 2015 to 3.5%, bok prices remaining low, those expected to stand pat until the end of this year and possibly cut once again in the first quarter of 12013. >> rhie, thanks for that. at the same time, the bank of japan minutes out today. members agree that japan's recovery has delayed considerably and some said they were concerned about the yen's strength. there's also fresh evidence of that slowing growth. core machinery orders in august dropped for the first time in three months. the manufacturing sectors were the worse shrinking the most since november 2009. ubi capital, marco, nice to see you this morning. central bank
CNBC
Oct 15, 2012 3:00pm EDT
still think that we would probably be diversified with gold and we would be in u.s. names, levered for growth but also with healthy dividend yields and strong supportable businesses. you know, we like energy. it's not going anywhere. we like the u.s. refiners. i do like financials in the long term although, you know, i would argue that if the positive, if you will, effects of qe, if there are any, are diminishing. the laws of diminishing returns. i think that's also doing -- that subsiis reducing the net earnings banks are seeing in earnings and i think that's why we've seen bank stocks slow down. >> jeff sica, anything you're buying in equities? >> right now i like energy. i think energy has probably the most potential going forward. some of the agriculture companies. i'm in it to win it. i'm not just sitting on the sideline waiting in every area. there are stocks that have some potential because they're backed by things like commodities. they have the ability to increase in value. as we start to see this inflationary trend start to pick up. >> all right. gentlemen, thank you all
CNBC
Oct 19, 2012 5:00pm EDT
commentary we have seen about the u.s. just from ibm and mcdonalds and what googt had to say about the u.s. economy these guys are more exposed. i like this trade. >> i thought the interesting thing was that carter said his target is $65. why not reduce the cost and make the whole thing a spread. mike is not spending very much money and wouldn't receive much for selling the put. he would sell a dollar cheap put to put on a spread. i don't ever want to. i want all that down side if all i'm spending is 85 cents. >> shorting stocks is the riskiest thing you can do. after all they can only go to 0 but can go up forever and ever. that's a mighty long time if you are on the wrong side of that trade. mike's put purchase offers huge leverage to the down side and risks $85. we will see carter later on in the show. in the meantime got a question send us an e-mail. we will answer it on our one-on-one web extra right after the show on our website. you'll find trader blogs and updates there, as well. fantastic things to see. check it out. what's coming up next? >>> still golden? last week dan m
CNBC
Oct 2, 2012 9:00am EDT
means an executive is making such a move. we'll take a look once more at u.s. futures as we head to tuesday on wall street. the higher open across the board looks like much more "squawk on the street" straight ahead. all energy development comes with some risk, but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] truth is, dayquil doesn't work on runny noses. what? [ male announcer ] it doesn't have an antihistamine. really? [ male announcer ] really. alka-seltzer plus cold and cough fights your worst cold symptoms, plus has a fast acting antihistamine to relieve your runny n
CNBC
Oct 31, 2012 12:00am EDT
: matthew segal is an assistant u.s. attorney in sacramento who prosecuted barksdale. in october 2011, he's back in court, ready to put this massive case to bed. >> there we are in the morning, and it's time for neisha jackson, actually, to be sentenced. her lawyer's there, and i'm there. the judge is there. but no jackson. >> narrator: as time passes, jackson's lawyer says she's gotten a phone call from her client. jackson says she's not there because she's in the hospital. segal isn't buying it. >> given that the entire nature of this case was using the phones for fraud, i only would have been comfortable if i had seen jackson right in front of me. >> narrator: his doubts are soon backed up. >> somebody went to the hospital and she was not in the hospital. she was on the run. >> narrator: the u.s. marshals service is searching for neisha jackson. she's a fugitive from justice, and the feds say it's likely she's using her criminal know-how to fund her life on the run. bozeman, montana. a gateway to yellowstone national park, it's a long day's drive from barksdale and jackson's home i
CNBC
Oct 30, 2012 11:00pm EDT
significant. contrast that news with the news from last night with the report. ♪ hallelujah >> u.s. based furniture maker makes bed springs that i'm sure at some point pondered going full bore into europe or latin america. i'm sure a whipper snapper said we have to make it more in the bed spring market. guess what? the good old u.s. made these guys important. not because the stocks are going down, this one will be a jumper when the market opens tomorrow. it has been two weeks since the earnings seasons started for the banks. the mortgage business, us bank corp and i'm not banking away. wells far go. they're having so much business. i think it may have dinged their profit margin. hiring people to meet that demand. talk about a high quality program. how could housing be this strong in light of all of the markets since the economy got so weak? tick down the positives. lower prices and lower taxes and valuations going down. of course super low mortgage rates. and then moving them into new houses where the jobs are. it doesn't hurt that they are buying homes from banks and putting money
CNBC
Oct 2, 2012 3:00pm EDT
for a while. i mean, six of the last eight sessions were down in the u.s. stock market here. but nothing has really changed in the fundamentals of the news we've been getting to warrant that. so what do you think is going on here? >> yeah, bill, it is certainly a bit of a tired rally. earnings are going to be terrible. i think we all know that. but looking out a little bit longer term, earnings estimates are starting to rise a little bit. maybe third quarter earnings will be a trough. sentiment is terrible, which is obviously a good thing for stocks. there's a lot of money on the sidelines. as we get towards the end of the year, fund managers are behind their benchmarks. they could be putting that money to work and stocks are cheap. yeah, it's a bit tired. when alcoa starts off the season next week, don't expect great guns. i think a little farther out i still like stocks here. >> you still like stocks here in terms of alternatives. i guess there aren't many, right, rob? you're seeing all this money moving into equitieequities. what do you make of technology here? that was the le
CNBC
Oct 25, 2012 3:00pm EDT
rumor midday that maybe fitch was coming out with a downgrade of the u.s. they've denied that. we get ready for amazon's and apple's earnings that will be out after the close. right now at 2986 on the nasdaq. the s&p is up 2 3/4 points app 1411. so what's the market looking for? we had some good economic news this morning. earnings mostly positive, though we can't seem to get a rally going. >> in today's "closing bell exchange," je ngentlemen, good have you on the program. jim, let me kick this off with you. talk to us about what you're seeing in terms of the backdrop earnings as well as economic data and how they fit into in terms of the valuation of this market here. what do you want to be doing? >> we're long-term investors, and we're fairly optimistic that this thing's going unfold fairly well. right now we're kind of held in the cross currents of earnings reports and the anticipated election, the uncertainty that goes with that. we think once we get over the election hump that the market's going to look a lot better and then -- >> this is jim moffitt speaking, right? >> yes. >> s
CNBC
Oct 12, 2012 12:00pm EDT
idea way more so than the other banks that seem to have retrenched a bit more on u.s. business. given that we're paying a premium for u.s. focused stocks across the market and we're kind of staying away from euro or asian-focused businesses, do you think that that's been holding citigroup back and might that be an opportunity if that picture does brighten? >> i do think it's -- i absolutely believe it's holding it back and i think it's an opportunity. citi is not that big europe. it's more asia and emerging markets and qe3 in both times we've gone through this before has been a big beneficiary to emerging markets. >> fred, if you had to own one bank and you had a few thousand bucks to put to work who would you put it in? >> i'd buy citi going into next week. >> fred, thanks so much. >> great to be on. >>> coming up on "halftime" housing turned the corner, jamie dimon said those words today and we've been saying it for weeks. >>> and later, the biggest tech ipo since facebook hits the street, but is workday worth your investment dollars? >>> double-digit returns for investment s
CNBC
Oct 8, 2012 9:00am EDT
%. the world bank citing weak global demand due to the european crisis and a slow u.s. recovery. data from europe showing industrial output in germany fell .5% in august. lots to digest. the world bank note was interesting. what they pointed out was a lot of chinese cities that had these aggressive and ambitious spending, stimulus plans to rebuild the cities might have trouble running into funding for these projects. >> i think a lot of the data that we see today is catch-up. there's just not a lot of good news out there. the brightest spot in the economy is the united states. i think it was controversial last week. we got an unemployment number suddenly that was a grand conspiracy. i didn't see it that way because perhaps i'm not a black helicopter guy. but i do think that other than the united states, there's not a lot of momentum. and china and europe can pull the world down. you see today the world being pulled down. china is not doing much to help its situation. i think the estimates for china at 7 are wrong. it should be 5.6. >> change in power coming up in china. typically ther
CNBC
Oct 29, 2012 5:00am EDT
. >>> well on come to wourd wide exchange. as is an decide barrels towards the east code, u.s. authorities order thousands to evacuate for the the biggest storm. >> my first message is to all the people across the eastern seaboard atlantic going north that you need to take this very seriously. >> all u.s. stock markets will be closed today. its first weather related closures in 27 years. and shares in ubs rise in the open after reports swiss bank may cut 10,000 investment banking jobs and wind down up to 15 trading businesses. police wen and his family fight back. their lawyers call it untrue and are considering legal action against the "new york times." for our u.s. viewers, the show will be on just one hour this week because europes has gone off daylight savings time, so we're just four hours ahead now of new york time. hurricane sandy is also still several hours away from make landfall, but the impact of the storm is already being felt. transportation has ground to a halt as new york and other major eastern cities have shut down mass transit, airlines canceling flights and
CNBC
Oct 1, 2012 9:00am EDT
. what would you be saying about the u.s. fortunes into q4? >> i still await a negative retail story that i don't have. china -- can china remain bad forever? that's a difficult question to see how long it can remain bad. >> good point. stuff on housing is good. the lead story in "the journal" today, trade slowing. slowing pmis in japan, china, europe -- >> how is this news? what news was there in that story about trade is slow? were they really that devoid of anything new? that's like, d.a. probes rackets. come on! >> meanwhile, busy week for new companies. one of the busiest weeks for ipos since july. and i think september, i just saw these numbers, the best september since '99. eight deals, $5.5 billion, best actual month since may. >> david bust ser coming back. my daughter was able to beat -- there's a claw that comes down -- my daughter got five straight. i'm glad dave & buster is coming back. >> anything worth anything? >> not more than two cents. >> and it costs 50 cents to play? >> i've dropped 50 bucks playing that like. and lifelock, sponsor for trump, you get six banks be
CNBC
Oct 23, 2012 9:00am EDT
them and say they're awful but which one is cheaper right now? europe is cheaper than the u.s. >> for good reason. >> that's the argument. >> talk about no growth. >> housing is still good. regions financial not a good bank but that was an outlier. >> whirlpool reports you are in the midst of a returning spin cycle inside a dryer. this was the first quarter that made me feel, wait a second, you know how you spin around? >> i imagined a fraternity inside a dryer. wonder if they ever tried that. >> whirlpool has been a disappointor f e disappointer for most of the year. >> in the end, let's go back to what carl said. what was that rally yesterday? a rally that felt romney would do a good job. >> we have a situation macro versus bernanke's bid under the market. >> if it weren't earnings report season, it would be terrific. it's like what you were saying before. if the international debate had been first -- >> foreign policy. >> how would that change the outcome? reports do sort of keep with one theme which is split personality between u.s. businesses and u.s. consumer. the real q
CNBC
Oct 8, 2012 6:00am EDT
since 2001. and that's predominantly due to the region's exposure to china. and finally, a u.s. congressional committee set to recommend blocking china's big telecom equipment maker from expanding in american markets. leaked report says that there are security risks. >> codo we trust the chinese? >> if you were looking there, i would find another vendor if you care about your indiatakellectu property and the national security of the united states of america. >> that report was something. the full report set to to be released at 10:00 a.m. eastern today. the move comes as they're considering a public offering. and joe has more headlines. >> the leaves are changing color. east coast starting to feel the chill of autumn. that could only mean earnings season are upon us. i'm not sure why my headlines aren't exciting enough or ominous enough for the new music, but apparently they're not even though earnings are not expected to be that great. so you would think maybe i would have some music with my read here. there it goes. >> i'm even getting sick of it at that point, sorry. >> it's
CNBC
Oct 16, 2012 6:00am EDT
europe. stoxx 600 up by 0.4%. people are saying that's cuing off what started in the u.s. yesterday. also citigroup beating earnings. so look to goldman whether we can keep momentum there. hang seng up 0.3%. xetra dax now over the 7300 level. ftse 100 even adding half a percent this morning. this after uk inflation data fell to its lowest annual rate since 2009. spain and greece did go to market with 12 month t-bills today paying slightly lower yields. spain's ten year is moving a little bit higher today, nevertheless 5.85%. greece, the rally continuing there. under 17.4%. italy benefiting a bit this morning. and i want to end on this note. as people sort of continue to debate whether it's qe-3 or fundamental strength in the global economy, silver yesterday got nailed. down almost 3%. today we're seeing a bit of a buns back. so in line with what we're seeing across crude, as well. but perhaps more indicative of the general risk on mood that we've seen. the debate whether or not you you want to buy precious metals versus base metals is likely to continue. but better signs coming out
CNBC
Oct 15, 2012 1:00pm EDT
to keep the u.s. from running off the fiscal cliff. we're now just 76 days away from that december 31st deadline. >>> and the big -- there it is, the big fast fish in the investing pool. high-frequency traders seem to be swimming away. will that make it safer for you to go back into the market's sometimes choppy waters? >> i don't know whether you could have heard kenny just a second ago, isn't that interesting. >>> first, stocks marching higher as we kick off a monster week of earnings. keep in mind the dow just about 6% from its all-time high set back in 2007. how much higher can we go? listen to what john taft told cnbc earlier today. he's the ceo of rbc wealth management, managing more than $225 billion. >> i believe that if congress were to pass and the president were to sign something that resembled simpson-bowles, you would see the market take off and move thousands of points in a relatively short period of time. i think that's the single biggest issue we face. >> they are nodding their head in agreement. his comments come on the back of the latest "barron's" cover story sug
CNBC
Oct 16, 2012 3:00pm EDT
coming back home. that's the situation in the u.s. and at least as much it's the situation in europe. these banks coming home is continuing to put real pressure on the european economy. >> speaking of which, bob, our markets are fixated on what's going on in europe. latest drama has to do with spain and whether they ask for aid from the ecb. there was a rumor out today that maybe they'd set up a line of credit. how do you think that resolves itself? >> well, that's the topic we've been discussing here at stanford. i think the general sense is mario draghi, the head of the ecb, has offered a pathway and bought some time. but now the key players have to act. they have to act on the reforms on their fiscal and structural side, but also in particular, spain is likely going to need to face this step. this is something that under their democratic process only they can decide. there's sensitivity with others in germany. frankly, one of the lessons in the european crisis over the past two or three years is if you get a breather and then you wait too long, the markets or something may hit you
CNBC
Oct 3, 2012 4:00pm EDT
big money is eyeing and whether or not foreign money is coming into the u.s. we have henry m henry mcveigh w. tell me what you're hearing. >> the clients with the long-term focus are the ones we traditionally work with. we see opportunities. we have a very big presence in asia. i was just over in hong kong and india. we're finding things to do on the consumer side. i would tell you, i do think the chinese economy in particular, the export economy, is structurally broken. i think that's a big change. i've been going to china since 1995. i think there's a fundamental shift in what's going on. we saw that in the caterpillar numbers. you saw that in the federal express numbers. some people think that's cyclical. i think there's prob a m secular component to it. >> this is a very important point you're making because china's growth has been driven by the export economy. you're saying that it's in trouble, it's broken. >> i'm not saying it's broken. i'm saying there's a transition going on towards consumption exporting to europe and real estate are no longer going to be their drivers nap
CNBC
Oct 5, 2012 6:00am EDT
more. >> i see oo 7 at the u.s. open tennis all the time. that's where sean connery hangs out.7 at the u.s. open tennis all the time. that's where sean connery hangs out. looks like we're going down a drain. the show has been going down the drain. that's a good pose there. shaken not stirred. thank you, ross. we'll see you later. have a great weekend. if you have satellite tv, could you probably get the reds game maybe. >> maybe. >> we are in count down mode this morning. jobs report due out at 8:30 eastern. we are joined this morning by michelle girard. you have about eight names. people remember your face. we've made you famous. get recognized once in a while? >> sometimes. >> and we have it other guy who gets recognized for his ties. fao chief economist and federated investor chief equity market strategy phil orlando. how are you? >> i'm fine. >> we've been going on for 20 years i think. >> feels like that. >> what's your number today? >> 120. we were discussing it earlier. we're very close to consensus. there isn't a lot that suggests the labor market has changed very much and
CNBC
Oct 7, 2012 7:30pm EDT
years it has been 5.8%. two percentage points above where we would like to be in the u.s. the other thing is where are the jobs coming from? we see health care is a healthy area for unemployment, manufacturing is not. i think that will continue to be true. american workers need to understand we are moving to a knowledge economy, technology, solutions and services and not product. there is that shift going on in the workforce as well. >>> the markets neared multiyear highs this week. money has been moving in to stocks, do you think it continues to go up and do you think this is a post-debate romney rally? >> i don't know how much the debate influences the markets overall. i think that for long-term investors like us at "the motley fool" this is a fine time to be an investor. of course we generally think that. we like to add money every month. one of the worst things that happens and a lot of discussion on the macro issues the crisis that come along on wall street and the high-frequency trading that makes people think they have to pay attention on a second-by-second basis. a lot of re
CNBC
Oct 10, 2012 4:00pm EDT
very pleasantly surprised and get a much larger, more significant return than you will buying u.s. treasuries. >> gentlemen, thank you so much. >> thank you. >> buy 30-year bonds. >> okay. yeah, there's a treasury auction coming on those as well. so which stocks are being hit the hardest so far this month? >> just today the dow and s&p turned negative on the month. that's the quickest that's happened in a month since july of last year. it's brought a lot of stocks down into the red today with the market's overall spoiler. the most negativity is hitting health care and tech. let's look at the five worst october performers on the whole. the first is striker, down better than 6% in october to date starting the month with the management shake-up. orthopedics president took on the ceo role as well. investors seem to be waiting on the sideline there is. advanced microdevice is down just about 6.5%. pacific crest downgraded the company a week ago citing an inventory correction. next, auto desk down 7%. a couple small deals this month as well as some issues in the field. ubs says it's sti
CNBC
Oct 9, 2012 12:00pm EDT
here? somewhat unusual. >> turkey and syria and the u.s. dollar which is actually higher today which suggests oil prices should be moving lower. when most people are searching for a reason the market is moving higher it will tell you the direction will continue to go higher. i would not fight this. i would not short this. i think it is about geopolitical tensions and worries and what potentially may result from syria and turkey is a lot of pipelines with turkey. >> how much do you think it has to do with global growth, concerns about where the world is going? the imf coming out with another down grade of growth. >> it is true. that's what makes this move very interesting. actually if you have global growth concerns you expect downward pressure. >> that's why i am surprised in the face of the imf and all the reasons in the world and noise about the spr, right, and all the reasons in the world, guys, why you think this chart would look differently. >> that shows it is more likely speculation as opposed to longer term bullishness and fundamentals that makes us a bit more cautious on thi
CNBC
Oct 22, 2012 5:00pm EDT
dynamic clearly and i think investors will reward that in the long term. i also think that the u.s. recovery and the strength that we're seeing domestically plays directly into what yahoo! does well, so you're looking at a stock that is now lifted slightly above where it was when she joined in the middle of july. you still need to hear further commentary on what was discouraging to investors back on august 9th. what are you going to do with the capital? are you going to return it to shareholders or not? that's really, i think, what's going to motivate people who are sitting on the sidelines to get into the stock in a more aggressive fashion. >> and, michelle, a lot of times when a ceo comes in, especially with a pedigree like this, they try to buy themselves a lot of time. she's not trying to do that. from everyone i've talked to at yahoo! this lady is really gunning, and she is demanding the that if somebody says, yeah, i can deliver that in three months, she'll say in three months i'll have a new person in that seat. i want it next month. in other words, she's pushing them hard t
CNBC
Oct 1, 2012 1:00pm EDT
a little sigh of relief there. a rally that's carried over to the u.s. but are the underpinnings here at home strong enough? >> new order xoen fent norcompo ism moved the market up in addition to follow-through from europe. the dow industrials were off the high 2-1 advancing to declining stocks. it was 3-1 earlier but you could see we've dipped a little just in the last 15 minutes or so. in terms of what's moving here, well, right across the board, pretty nice rally here. energy materials, industrials, even consumer staples participating in this rally. we're expecting very significant increase in earnings about 20% over last year. >> that's almost a 4% gain in goldman sachs. >> look at the overall group moving to the up side. we need some positive earnings commentary from this group for the fourth quarter for the s&p to make numbers. finally, airlines are up as the international air transport association talked about a higher profit outlook for the airlines this year. given the prices i've been paying for travel? there ought to be -- >> you're our leading indicator. >> it hurts!
CNBC
Oct 19, 2012 4:00am EDT
halted after u.s. food giant bought a 10% stake in the grain's handler. the index higher by a quarter of a percent. and the sensex lower by 0.7%. ross, back to you. >> thanks for that. we'll catch you a little bit later. now as we were saying at the top of the show, 25 years since black monday. what are your memories of that day? worldwide at cnbc.com, at cnbc @cnbcwex. my moem other is everybody just looking at each wondering what was going on. >> my memories a a little foggier, but interested to read everybody else's. coming up later, india's tcht ata group wants a bigger slice and they're willing to pay for it. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announc
CNBC
Oct 5, 2012 6:00pm EDT
be surprised if it didn't. >> that is because? >> right now the politicians in the u.s. and politicians in europe, combined with central bankers are my best friends, they keep printing more money, more money, more money, and as they do that, people move to gold, and the price of everything is increasing in u.s. dollar around the world. >> how is it that all of the gold miners we talked to, the getting it out of ground, the actual supply, so much hard than when we started the show seven years ago? >> a lot more competition, and a lot more things like truck tires, cost $30,000 for a tire, which used to cost $2,000 to $3,000 per tire. they are getting bigger and bigger and bigger means more complex, more problems. >> you're in a lot of countries. you're in brazil, in canada. is there gold -- other than antarcti antarctica, are there still gold mines that are worth it? if we went out to nevada -- would it be worth it? in mexico, a ton of gold mines that were closed because gold was $200. if we get to $2,000, will lots of mines open? >> the expiration right now, the gold mines ar
CNBC
Oct 16, 2012 5:00pm EDT
, going into toshiba. markets are okay, when you look inside what we're hearing from the u.s. business, that looks like it slowed down in the last few weeks. i think the hardware side of it is troubling. not so much for ibm but for others in hardware. >> you're not buying the stock? >> let me finish. you've got a company that has performed very, very well. so i would suspect around $200, $203 somewhere in there, there are going to be buyers that remain in place. >> i don't disagree with anything you're saying, here's a stock that was trading a percent or two above the market high. it's not like one of those juicy fields. >> you can tell sean as the lagger. it was a service company and now it's trying to get into the cloud. >> i'm so glad you brought up intel. intel popping on better than expected earnings. guidance was nowhere near as some were expecting. the revenue number on an absolute basis doesn't look too bad, sequentially the comparison's not great, but it is a little bit learn q-3. but the commentary on the call is kind of leading us to believe that maybe it taking a lot of pai
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